The Council hereby finds that:
(a) New Mexico governmental units are authorized to establish regional transit districts; and
(b) The initial signatories ("Initial Members") began working together to form such a district in 2003; and
(c) The NCRTD is requesting that all members execute a new Amended Intergovernmental Contract to add the Village of Taos Ski Valley as a new member and confirm the voting rights of each member; and
(d) The Council has been fully briefed and has reviewed the attached Amended Intergovernmental Contract and has determined that it is in the best interest of the Pueblo to approve the Amended Contract, provided, however the Council confirms that it is not waiving, limiting or modifying its sovereign immunity from suit by approving the Agreement.